Alamos Gold (TSX:AGI) (NYSE: AGE) reviewed 10-02-2020
Market Cap: $3.46 B (USD)
Share Price: $8.89 (USD)
Shares outstanding: 391,0076,000
Cash: $201.3 M (USD) as of 30 June 2020
Debt: $100 M (USD) drawn on credit facility as of 30 June 2020
Current operations: Yes
Insider holdings: Low
Institutional: Significant
Website: alamosgold.com
Investor Presentations: https://www.alamosgold.com/investors/default.aspx#corporate-presentations
President, CEO & Director: John A. McCluskey
HQs: Toronto, Canada
Large portfolio of properties, three in production, four development and 20+ exploration properties
Operates in Canada and Mexico
Principal mines: Young-Davidson (Canada), Island Gold (Canada), Mulatos (Mexico) – 100% owned
Underground (Island Gold) and open-pit (Mulatos) mining
Thru 1H (six months) of 2020, total 189,000 oz gold produced, sold at an average $1626 (USD)
AISC of $1276 (USD) was temporarily higher due to costs of advanced mine tie-in at Young-Davidson (lower & upper) and COVID-19 disruptions at Island Gold and Mulatos. The company expects this to decrease significantly in 2nd Half of 2020
Stellar balance sheet
22 M oz in resources, guiding towards 800,000 – 1 M oz annual production
One caution flag: significant future growth located in Turkey, est. 350,000 oz. (Kirazli, Agi Dagi, and Camyurt)
Bottom line:
- Emerging major
- Consistent personal holding with portfolio weighting of +8.7%
- Adding to positions at current prices